Park Holidays has reported revenues of nearly £150m and profits of almost £35m as it continues to invest in its 29 strong portfolio of UK holiday parks.
Results for 2017 show the company has increased its profits for the year to £34.6m, up from £31.8m a year earlier. Revenue for the operator also rose to £149.7m, up from £131.5m, which commercial director Tony Clish attributes to substantial investments made by the group.
“We have spent over £5m on entertainment complexes alone in the past couple of years,and much more on other features such as swimming pools, clubs, and children’s activities,” he told Insider.“Our aim is to provide a first-class holiday experience for guests,but to maintain the value-for-money appeal with which park holidays are traditionally associated.
“Repeat visits and stays booked as a result of recommendations continue on an upward trajectory, and suggest that Park Holidays UK is meeting both quality and price expectations.”
Despite uncertainty relating to Brexit,the company’s financial report stated the said the UK economy was“relatively stable”, with Clish adding that the recent rise in staycations has been good for business.”
“The staycation trend of recent years appears to be well entrenched, and I think there is evidence that UK holidays are increasingly becoming the first choice of many families who previously went abroad,” he continued.“We are looking forward to continued growth, both organically and through acquisition,but will always accompany this with investments designed to bolster the competitive edge of our product.”
During the period Caledonia Investments sold Park Holidays to Intermediate Capital Group on 8 February 2017.